Sail Harbour Community Development District

Proposed Budget For Fiscal Year 2019/2020
October 1, 2019 - September 30, 2020

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

PROPOSED BUDGET
SAIL HARBOUR COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	
FISCAL YEAR 2019/2020
BUDGET	
O & M Assessments	68,957	
Debt Assessments	509,434	
Other Revenues	0	
Interest Income	300	
		
TOTAL REVENUES	$	578,691	
		
EXPENDITURES		
Supervisor Fees	9,000	
Payroll Taxes (Employer)	720	
Engineering/Inspections	7,000	
Pipe Maintenance/Replacement	10,000	
Management	24,000	
Legal	5,500	
Assessment Roll	5,000	
Audit Fees	3,500	
Arbitrage Rebate Fee	600	
Travel	500	
Insurance	6,200	
Legal Advertisements	1,500	
Miscellaneous	1,600	
Postage	350	
Office Supplies	575	
Dues & Subscriptions	175	
Trustee Fee	4,400	
Website Management	1,500	
		
TOTAL EXPENDITURES	$	82,120	
		
REVENUES LESS EXPENDITURES	$	496,571	
		
Bond Payments	(478,868)	
		
BALANCE	$	17,703	
		
County Appraiser & Tax Collector Fee	(11,567)	
Discounts For Early Payments	(23,136)	
		
EXCESS/ (SHORTFALL)	$	(17,000)	
		
Carryover Funds From Prior Year	17,000	
		
NET EXCESS/ (SHORTFALL)	$	-	

DETAILED PROPOSED BUDGET
SAIL HARBOUR COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	
FISCAL YEAR 2017/2018 ACTUAL	
FISCAL YEAR 2018/2019 BUDGET	
FISCAL YEAR 2019/2020 BUDGET	

COMMENTS	
O & M Assessments	69,694	69,017	68,957	Expenditures Less Interest & Carryover/.94	
Debt Assessments	509,434	509,434	509,434	Bond Payments/.94	
Other Revenues	0	0	0		
Interest Income	296	300	300	Interest Projected At $25 Per Month	
					
TOTAL REVENUES	$	579,424	$	578,751	$	578,691		
					
EXPENDITURES					
Supervisor Fees	3,000	9,000	9,000	No Change From 2018/2019 Budget	
Payroll Taxes (Employer)	230	720	720	8% Of Supervisor Fees	
Engineering/Inspections	3,301	7,500	7,000	$500 Decrease From 2018/2019 Budget	
Pipe Maintenance/Replacement	0	10,000	10,000	No Change From 2018/2019 Budget	
Management	24,000	24,000	24,000	No Change From 2018/2019 Budget	
Legal	4,809	5,500	5,500	No Change From 2018/2019 Budget	
Assessment Roll	5,000	5,000	5,000	No Change From 2018/2019 Budget	
Audit Fees	3,800	3,900	3,500	Accepted Amount For 2018/2019 Audit	
Arbitrage Rebate Fee	500	600	600	No Change From 2018/2019 Budget	
Travel	104	500	500	No Change From 2018/2019 Budget	
Insurance	5,778	6,356	6,200	Insurance Estimate	
Legal Advertisements	1,316	1,500	1,500	No Change From 2018/2019 Budget	
Miscellaneous	552	1,800	1,600	$200 Decrease From 2018/2019 Budget	
Postage	147	350	350	No Change From 2018/2019 Budget	
Office Supplies	296	600	575	$25 Decrease From 2018/2019 Budget	
Dues & Subscriptions	175	175	175	No Change From 2018/2019 Budget	
Trustee Fee	4,337	4,400	4,400	No Change From 2018/2019 Budget	
Website Management	1,500	1,500	1,500	No Change From 2018/2019 Budget	
					
TOTAL EXPENDITURES	$	58,845	$	83,401	$	82,120		
					
REVENUES LESS EXPENDITURES	$	520,579	$	495,350	$	496,571		
					
Bond Payments	(490,024)	(478,868)	(478,868)	2020 P & I Payments Less Earned Interest	
					
BALANCE	$	30,555	$	16,482	$	17,703		
					
County Appraiser & Tax Collector Fee	(896)	(11,569)	(11,567)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(20,890)	(23,138)	(23,136)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	8,769	$	(18,225)	$	(17,000)		
					
Carryover Funds From Prior Year	0	18,225	17,000	Carryover Funds From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	8,769	$	-	$	-		

DETAILED PROPOSED DEBT SERVICE FUND BUDGET
SAIL HARBOUR COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	FISCAL YEAR 2017/2018 ACTUAL	FISCAL YEAR 2018/2019 BUDGET	FISCAL YEAR 2019/2020 BUDGET	

COMMENTS	

Interest Income	
4,513	
50	
100	
Projected Interest For 2019/2020	

NAV Tax Collection	
499,454	
478,868	
478,868	
Yearly Maximum Debt Assessment	

Prepaid Bond Collection	
0	
0	
0		

Total Revenues	
$	503,967	
$	478,918	
$	478,968		

EXPENDITURES					

Principal Payments	
250,000	
260,000	
270,000	
Principal Payment Due In 2020	

Interest Payments	
229,403	
215,494	
206,397	
Interest Payments Due In 2020	

Additional Principal Payments	
0	
3,424	
2,571	
Additional Principal Payments	

Total Expenditures	
$	479,403	
$	478,918	
$	478,968		

Excess/ (Shortfall)	
$	24,564	
$	-	
$	-		

Series 2015 Bond Refunding Information

Original Par Amount =	$6,775,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	3.60%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	February 2015			
Maturity Date =

Par Amount As Of 1/1/19 =	May 2036

$6,035,000			

Sail Harbour Community Development District Assessment Comparison

Original	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
Projected	2016/2017	2017/2018	2018/2019	2019/2020	
Assessment	Assessment	Assessment	Assessment	Projected Assessment	
  Before Discount*	  Before Discount*	  Before Discount*	    Before Discount* 	    Before Discount* 	

O & M	$	168.54	$	146.02	$	145.93	$	145.92	$	145.79	
Debt	$	1,223.46	$	1,079.31	$	1,079.31	$	1,079.31	$	1,079.31	

Total

$	1,392.00

$	1,225.33

$	1,225.24	$

1,225.23	$

1,225.10

* Assessments Include the Following : 4% Discount for Early Payments
1% County Tax Collector Fee
1% County Property Appraiser Fee

Community Information:		
Total Units	473	
Prepayments	1	
Billed for Debt	472	

3/30/2019 1:56 PM	IV